Debt and depression often go hand in hand. If you are overwhelmed with debt, unemployed, and can’t see a way out, it could lead to feelings of depression. Similarly, if you are depressed, you’re more likely to find yourself struggling financially. It’s a dangerous spiral, and it’s very hard to get out of, but there is a solution.
How to Battle Money Depression
There are a lot of things you can do to fight back against money depression.
- Help Someone Else – Helping other people sets off a chemical reaction in your brain that relieves stress and can help raise your spirits. Yes, it’s true. Doing good actually makes you feel good. Now, it’s important to note here that helping out someone else does not mean helping them financially. Help someone by volunteering your time, maybe helping out the less fortunate (yes, someone else always has it worse).
- Stop Ignoring the Problem – Ignoring your money problems can make it seem bigger than it really is. Tackle them head on. If you turn and face your problems, you’ll find that they may not be quite as complicated as you thought.
- Go for a Walk – It may not seem like it, but taking a long walk can help alleviate stress and depression. The exercise will release endorphins which will brighten your mood, and the fresh air and vitamin D you get from being outside can also help to clear your mind of negativity.
- Get Help – Never be ashamed to ask for help. There are people all around you that would be more than happy to help you. You are not an inconvenience. It’s likely that one of the reasons you are struggling is that you don’t know how to fix the problem, or where to start. If you are having money troubles, you probably won’t be able to afford speaking with a therapist, but some health insurance providers may pay for it. Check to see if yours does. You may also seek help from a bankruptcy attorney. Thousands of people suffering from money-related depression have since turned things around after filing for bankruptcy. Simply knowing what your options are can do wonders for clearing your head and improving your outlook.
Chapter 7 bankruptcy may offer you the restart you need to get back where you belong. Talk with a qualified bankruptcy lawyer to find out if bankruptcy is right for your situation.